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Main » 2018 » October » 18 » Traders - trading ideas for today 10/18/2018
11:29
Traders - trading ideas for today 10/18/2018

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Pair USDCAD continues to develop confident bullish rally. According to the results of yesterday the Canadian currency fell to its lowest level since early October, having tested 1.3050 resistance. Market participants have identified two key reasons of such dynamics - reduction of oil prices and a rising dollar. In particular, the price of oil, one of the main exports of Canada, have come under pressure amid increasing 4 consecutive week in US oil inventories.

 

AMarkets

 

In turn, the positive dynamics of the dollar was due to the release of minutes of the last meeting of the US Federal Reserve to increase the likelihood of tighter monetary policy in December this year. However, to write off completely from the accounts of "Canadian" is not worth it. The fact that the Fed is not the only regulator expected to increase interest rates. In his footsteps and is the Bank of Canada. Reuters economists predict that the central bank of Canada will do it next week, which could become the fifth increase since July 2017 It is worth noting that the Canadian economy continues to grow really deserve rates including due to the fact that the fiscal stimulus in the US It increases the demand for Canadian exports. Tomorrow will be published data on inflation in Canada. In the case of the growth of the consumer price index, raising rates by 25 basis points in the coming environment can be considered a done deal. Against this background, we recommend to look closely to the USDCAD pair Sales.


#USDCAD SellStop 1,3015 TP 1,28 SL 1,3070

 

Quotes Brent crude ended the trading session lower environment to support the $ 80 per barrel, responding to a substantial increase in US oil inventories. It is worth noting that it is this reaction we would expect to see on the report output from the fact EIA. In the Asian session Thursday, oil remains under pressure, has overcome the psychological bar $ 80 per barrel. WTI crude oil for the first time in three weeks slipped below $ 70. US Energy Information Administration (EIA) said on Wednesday that US crude stocks in the week ended October 12, increased by 6.49 million. Barrels. Growth stocks continued a fourth week in a row, reflecting the low rate of capacity utilization of refineries, as well as weaker domestic demand, which is also due to seasonal phenomenon. S & Analysts P Global Platts had expected an increase of oil reserves to 1.88 million. Barrels. The day before, the American Petroleum Institute (API) reported and reduced inventories at 2.1 million. Barrels. Earlier quotes grew against the background of a diplomatic row between the US and Saudi Arabia after the disappearance of an American journalist. oil pressure and had a rise in the dollar, which strengthened the position after the release of minutes of the last meeting of the US Federal Reserve, the monetary authorities reaffirmed their intention to continue to raise rates. Having said that, the news background is becoming more bearish, we recommend you use it. Earlier quotes grew against the background of a diplomatic row between the US and Saudi Arabia after the disappearance of an American journalist. oil pressure and had a rise in the dollar, which strengthened the position after the release of minutes of the last meeting of the US Federal Reserve, the monetary authorities reaffirmed their intention to continue to raise rates. Having said that, the news background is becoming more bearish, we recommend you use it. Earlier quotes grew against the background of a diplomatic row between the US and Saudi Arabia after the disappearance of an American journalist. oil pressure and had a rise in the dollar, which strengthened the position after the release of minutes of the last meeting of the US Federal Reserve, the monetary authorities reaffirmed their intention to continue to raise rates. Having said that, the news background is becoming more bearish, we recommend you use it.

 

#UKOIL SellStop 79,60 TP 77,50 SL 80,20


Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Trading Ideas Artme Deev trader analyst AMarkets.

 

 

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